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PREVIOUS:Investing apps can be an effective tool for producing passive income and gradually increasing wealth if you have the correct investment strategy and a long-term outlook. The gig economy has grown significantly in the last several years, providing freelancers with a plethora of chances to monetize app-based platforms. Through apps like Upwork, Fiverr, and Freelancer, users can market their abilities and services to clients worldwide. These platforms offer a marketplace where independent contractors can find work and make money on their own terms, regardless of their expertise—whether they are writers, programmers, graphic designers, or marketing specialists.NEXT:The ability to generate passive income through stock market investments, real estate crowdfunding, and other means has made investing apps more and more popular in recent years. Experienced investors can begin constructing their investment portfolio with ease thanks to apps like Acorns & Robinhood, which offer commission-free stock & exchange-traded fund (ETF) trading. Also, apps such as Betterment and Stash provide automated investing services, which simplify the process of investing for users without requiring a deep understanding of the stock market. A comparatively small minimum investment is required for users to invest in commercial real estate properties through real estate crowdfunding platforms such as Fundrise & RealtyMogul. These platforms give users the chance to profit from property appreciation and passive rental income without having to deal with the headaches of landlording. Also, by lending money to people or small businesses, users can earn interest on peer-to-peer lending platforms like LendingClub & Prosper.

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